Stagflation for the ages | World Finance

Stagflation for the ages

Amid seismic shifts in trade policy, supply chains, and political interference in central banking, the world may be headed for a sustained downturn that rivals the turbulence of the 1970s as protectionism rises and global economic uncertainty deepens

By Stephen Roach, Faculty member at Yale University and former chairman of Morgan Stanley Asia

July 11, 2025